Archive for August 2023

Property and casualty insurer RLI Corp said on Wednesday it expects to record pretax net catastrophe losses of between $65 million and $75 million from Hawaiian wildfires in the third quarter of 2023. Wildfires earlier this month on Hawaii’s Maui, … Source: Claims Journal

FedEx Corp. is pressuring delivery contractors to improve safety after mounting accidents helped trigger a near-tripling of insurance costs over the decade. FedEx is requiring contractors that deliver packages on behalf of the company’s Ground unit to install vehicle cameras … Source: Claims Journal

The workers’ compensation industry and state and federal tax authorities are losing hundreds of millions of dollars every year from fraud schemes involving shell companies in the construction industry, federal authorities are warning. The schemes, in which the shell companies … Source: Claims Journal

A second person has died in wildfires in eastern Washington state that ignited on Friday, burning hundreds of structures and closing a section of a major interstate for days, fire officials said. A body was found in the area burned … Source: Claims Journal

The U.S. Federal Aviation Administration said on Tuesday it will hold runway safety meetings at 90 airports over the next few weeks after a series of troubling close-call aviation incidents. Earlier this month, the FAA and National Transportation Safety Board … Source: Claims Journal

Crews worked to dig roads, buildings and care home residents out of the mud across a wide swath of Southwestern U.S. desert Monday, as the first tropical storm to hit Southern California in 84 years headed north, prompting flood watches … Source: Claims Journal

Canadian firefighters prevented wildfires from destroying more structures in a scenic region of British Columbia and stepped up their defense of a territorial capital threatened by flames, authorities said Monday as the prospect of rain raised hopes for the effort … Source: Claims Journal

Jumps in rates and written premiums did little to move the needle on underwriting profits for U.S. personal auto insurers, Fitch Ratings reported based on a recent review of midyear results of nine big market players. Profitability challenges in the … Source: Claims Journal

Moody’s RMS issued estimates on Tuesday showing economic losses from the recent Lahaina Conflagration and Kula wildfires in Hawaii at $4 billion to $6 billion. The loss estimate reflects property damage, contents, and business interruption, across residential, commercial, industrial, automobile, … Source: Claims Journal

Hawaii property owners are seizing on a legal shortcut used by fire victims in California to secure compensation from Hawaiian Electric Industries Inc. for damages following the fires that ravaged Maui. The strategy, which doesn’t require proving negligence, helped push … Source: Claims Journal